Is there a middle ground between Excel and $1,500/mo investor portals?
Hey guys,
I’m doing some research on the tech stacks used by private real estate operators. From what I’ve seen, there seems to be a massive "software gap" in the market.
On one hand, you have free but fragmented tools: custom Excel underwriting models, WhatsApp for capital raising, and manual Gmail threads. On the other hand, you have institutional platforms like Juniper Square or Agora that cost anywhere from $1,000 to $5,000+ a month—which makes no sense if you're only running a couple of smaller deals a year.
If you are an operator raising capital for deals under $5M or $10M, what software are you actually using to manage your investors and underwriting pipeline? Or is everyone just sticking to Excel and Gmail because the entry-level software cost is too steep?
Keen to know what the middle ground looks like for sub-institutional sponsors.